In a tweet at the beginning of 2022, Jim Cramer, the host of CNBC’s Mad Money show, had placed buy calls on Netflix.
Netflix shares fell precipitously in the previous week, reaching their lowest level since the early days of the epidemic. Since its stock price peaked in November, Netflix has lost over half of its worth. As individuals were trapped at home due to lockdowns and quarantines, Netflix’s revenue surged in 2020 and into most of 2021.
Shibetoshi Nakamoto, the developer of Dogecoin, points out that Netflix is down 33% since Jim Cramer’s call. According to U.Today, the CNBC anchor issued a warning about Dogecoin, claiming that it is an unregistered security. According to the renowned stockpicker, the sole objective of meme coins is to generate revenue for cryptocurrency exchanges.
In reply to Jim Cramer’s Dogecoin warning, Billy Markus recommended the CNBC host learn more about blockchain technology, claiming that Dogecoin does not meet the Howey Test because it is a proof-of-work cryptocurrency like Bitcoin.
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